Islamic Bank of Thailand denies 'crash' speculation | Bangkok Post: news

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IBank denies 'crash' speculation

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The chairman of the House committee on Border Affairs on Wednesday afternoon insisted the financial status of the Islamic Bank of Thailand (IBank) was still strong and that it would not fail as speculated. 

Panel chairman Samart Maluleem of the Democrat Party called an urgent news conference after it was reported that more than five billion baht in cash had been withdrawn by the bank's clients over the past 15 days.

The rush was driven by a report that IBank faces a problem, with as much as 24 billion baht of non-performing loans (NPLs), and would merge with another state-owned bank.

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